South Korea Jobless Rate Steady in June


South Korea seasonally adjusted unemployment rate was recorded at 3.9 percent in June of 2015, remaining unchanged from the previous month, as the number of employed persons increased despite small job losses in some parts of job categories.

On an unadjusted basis, the unemployment rate rose to 3.9 percent from 3.8 percent in the preceding month. The number of unemployed persons increased to 1,050 thousand in June as compared to 1,022 thousand in the preceding month.

The number of employed persons totaled 26,205 thousand in June, up from 26,189 thousand in the previous month. From May  to June, employment in agriculture increased the most by 18 thousand, followed by the mining & manufacturing (+15 thousand); manufacturing (+14 thousand) and construction (+8 thousand). In contrast, job losses were recorded for the business, personal, public service & others (+1116 thousand), the construction sector (-15 thousand); wholesale& retail trade, accommodation & food (-6 thousand) and electricity, transport, telecom & finance (-6 thousand).

Year-on-year, employment rose 1.3 percent while unemployment went up 10.6 percent. The economically active population marked 27,255 in June, up 1.6 percent from a year earlier, while the inactive population rose to 15.770, up 0.7 percent. The labor force participation rate stood at 60.9 percent in June, remaining the same year-on-year.

South Korea Jobless Rate Steady in June


Statistics South Korea l Rida Husna l rida@tradingeconomics.com
7/15/2015 9:23:41 AM